US-Iran conflict hits six-month mark as trade plummets 35% and oil exports falter
- Iran's foreign trade has decreased by nearly 35% due to US sanctions & a naval blockade.
- The war's economic impact is compounded by 66% inflation & a significant reduction in shipping through the Strait.
- Only 7 vessels crossed the Strait of Hormuz recently, far below the usual daily average of about 15.
- Iran plans to focus on domestic production & reducing reliance on the US dollar while navigating these economic challenges.
Source: financialexpress.com
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